While some despaired over the Dow's 188 point drop and the 1.7% decline in the S&P 500, Cramer told his viewers about the "magnificent sale" many investors missed. However, it is not too late to buy good stocks with winning long term themes. Overseas companies, gold, natural gas, mobile internet and homeland security are strong themes that are not going to go away any time soon. He recommended Apple (AAPL), Anadarko Petroleum (APA), Agnico Eagle Mines (AEM), Chesapeake Energy (CHK).

As a testament to Apple's success, TriQuint Semiconductor (TQNT) which makes components for smartphones, blew away its numbers with a fourth quarter year over year revenue increase of 55% with a 15% jump in its stock price. Triquint is the chipmaker for Apple's iPhone, and if TriQuint is strong, can Apple be far behind?

In spite of what he called “little meaningful improvement in near-term macroeconomic conditions," CEO Terry Lundgren saw an earnings beat of 8 cents a share after having raised guidance in January. Inventories were kept in check and sales were up, but Cramer wanted to know about Macy's future, not its past, performance. The largest national department store chain by revenue is "more immune than it used to be" remarked Cramer, thanks to its program designed to suit the needs of local consumers. "We are pulling ideas from the consumer rather than pushing them on the consumer," says Terry Lundgren.

While Lundgren is still "worried" about the macroeconomic picture, particularly unemployment, he says "credit card delinquencies are under control" and "online business is growing." He gives Martha Stewart credit for turning around home furnishing sales with her line of products.

Cramer says Time Warner (TWX) is still "one of the best media plays out there," especially since Jeffrey Bewkes took the helm in 2008. The new CEO extricated the company from the non-profitable AOL and spun off the Time Warner Cable (TWC) which was riddled by competition. Time Warner is now leaner and meaner and still is a great diversified media play huge name recognition for its businesses such as HBO, TNT, Cinemax and magazines Fortune, People, Sports Illustrated, all of which are performing well in spite of competition from the internet. Time Warner's dividend boost expresses confidence in the future.

Clean Energy Fuels (CLNE), designs, builds and operates natural gas fueling stations and has plans to expand into Southern California. Littlefair says he was in Washington with T. Boone Pickens discussing with legislators the potential of natural gas. He said natural gas is 50% cleaner than fossil fuels and emits 26% less carbon. Littlefair discussed the advantages of possibly converting the 8 million 18-wheelers in the U.S. to natural gas, a move that would create jobs and ultimately save drivers $1 per gallon of fuel. Even without government support, Clean Energy has doubled its backlog. Cramer says CLNE is still a speculative play but has a great future.